Last month, LastPass announced that it would soon be introducing a new “Families” plan for sharing passwords, bank account info, and other sensitive data among family members. We finally have pricing details on how much LastPass Families will cost, but in addition to that, the existing Premium option is seeing a price hike and a couple features from the Free plan are being removed.

LastPass Families will officially cost $48/year, and for that annual fee, you get 6 LastPass Premium accounts to share, folders for sharing passwords and other files between your family, and a dashboard to easily manage you and your family members’ accounts.

Unfortunately, where LastPass Premium previously charged users $12/year, it’s being doubled to $24/year. While all existing features are still available with Premium (sharing, emergency access, advanced multi-factor authentication options, 1GB of encrypted storage, and more), nothing new is being added to go along with the price hike.

Finally, LastPass is also taking away a couple of features from its Free service. Free users will now only be able to share one item with one other person rather than having unlimited sharing capabilities, and emergency access is also being stripped away. You can still use emergency access if you’re on the Free plan and already have an emergency contact set up, but new subscribers will have to make the jump to Premium for those features.

Rather than explain why features are being removed from Free and why Premium is being doubled in price, LastPass simply says –

“We want to empower users like you to take back control of your passwords and your online security. This lineup gives you the foundation to do so, from keeping track of your own passwords to managing and securing your family’s digital life.”

Premium LastPass users likely aren’t thrilled that their yearly charge is now doubling in cost, but even so, $24 is still a much better deal than what competing services offer. 1Password costs $36/year for its individual plan, and furthermore, the 1Password Families option goes for $60/month for only 5 accounts.

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